Allianz Real Estate has committed US$600 million to GLP’s funds in China and Japan on behalf of several Allianz group companies. The funds will focus on developing and investing in logistics assets with integrated technologies in China and Japan.
This investment is part of Allianz Real Estate’s strategy to grow its real estate exposure in the Asia-Pacific region. At the end of 2018, Allianz Real Estate had a global portfolio of EUR 63.5 billion with over EUR 3 billion in the Asia-Pacific region and over EUR 5.5 billion in logistics globally.
“This partnership is a strong strategic fit, leveraging Allianz Real Estate’s reputation and history as an investment and asset manager for real estate and GLP’s investment expertise, operational excellence and global scale,” said Ming Mei, Co-Founder and CEO of GLP. “We look forward to building our relationship with Allianz Real Estate across our markets.”
“We continue to believe in the long term fundamentals of the Asia-Pacific region. Logistics is a core part of our investment strategy and this opportunity will further diversify our portfolio,” said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate. “Our approach has been to build scalable relationships with best-in-class local operators in each of the markets and we are excited about partnering with GLP, a leading investment manager with deep operational expertise in the logistics sector across the region.”
GLP is a market leader and pioneer in China and Japan, leading the industry with its investment and development capabilities, scale and network, as well as thought leadership and innovation in logistics. GLP’s China and Japan development funds focus on developing modern, large-scale logistics facilities across China and in the Greater Tokyo and Osaka regions in Japan.
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